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Shares / Re: Retirement annuity advice
« on: February 28, 2014, 07:48:16 pm »
RA's have rightfully got a lot of bad rap over the years, however, there are a few good ones out there.
They offer tax benefits and they cannot be attached if you go bankrupt etc...
The trick is to stay away from life companies, and instead get one through a good Asset Manager.
Life Companies love to penalize you if you stop paying, or change payments.
You can look at Coronation, or Allan Gray, or 10x, they have no penalties and you can chop and change between funds etc..., you can also stop paying, move the funds to another company, or decrease your payments as you feel fit, without penalties.
You can approach them directly, no need for an advisor, just decide what fund or funds you want to invest in, and fill in a few forms etc....
If you are unsure what to invest in, speak to a FA, But remember, they will take a percentage in commission.
I personally just pick a balanced fund, and forget about it until retirement.
They offer tax benefits and they cannot be attached if you go bankrupt etc...
The trick is to stay away from life companies, and instead get one through a good Asset Manager.
Life Companies love to penalize you if you stop paying, or change payments.
You can look at Coronation, or Allan Gray, or 10x, they have no penalties and you can chop and change between funds etc..., you can also stop paying, move the funds to another company, or decrease your payments as you feel fit, without penalties.
You can approach them directly, no need for an advisor, just decide what fund or funds you want to invest in, and fill in a few forms etc....
If you are unsure what to invest in, speak to a FA, But remember, they will take a percentage in commission.
I personally just pick a balanced fund, and forget about it until retirement.